Short-term bullish rebound bars

While the image below does not represent a change in sentiment on my part it does accurately reflect the Top Stories headline Stocks Snap Losing Streak and clearly shows that the market has bounced off of its recent lows while still maintaining a short and intermediate term bearish bias. Short term bias would change to bullish above 104.68 and intermediate term bias becomes bullish at 105.25. Click on image to enlarge.

Looking at FXI (the iShares FTSE/Xinhua China 25 Index) with a similar chart layout shows it is close to a short-term breakout to the upside. I watch this one closely as it has proven to be a leader on breakouts and breakdowns. Which way it goes from here we will just have to wait and see. Click on chart to enlarge.